<p>Hey guys! I was recently accepted (yay!) to UChicago and I received, at least in my opinion, a relatively sizable estimated financial aid package. It predicts around 42,000 this year in university grants and then a few thousand in assorted loans. My question is, did anyone else receive a financial aid sum that drastically reduces the overall cost like this? I had read that UChicago wasn't as financial aid "friendly" as some of the other top institutions.</p>
<p>Also, if anybody that currently goes to UChicago is reading this, does the estimated financial aid package differ from the actual amount by much? Assuming that the same financial situation described in my CSS and 2011's is shown in my 2012's of course.</p>
<p>Thank you to everyone who reads this or replies! I'm finding it impossible to reason not attending UChicago for 18-20k per year....</p>
<p>Nope-- I got 40k institutional grant, 5k merit, 3k loans. Odyssey scholarship will replace loans with, you guessed it, scholarships, for families under certain income. So that’s 50k already. </p>
<p>Yeah… UChicago is super generous with aid. Well, they meet 100% of your demonstrated need, which differs from family to family, so…</p>
<p>Where does it show your financial aid other than merit aid? I think mine simply isn’t showing up because UChicago just received some additional documents that I had to send due to a mistake on the CSS profile, but I want to make sure I’m not just being silly.</p>
<p>My son received $46,000 institutional grant $5500 in loans. Does anyone know how the National Merit Scholarship ends up impacting the est. aid.? Does it take place of part of institutional grant, loans or family contribution?</p>
<p>I don’t think it has an effect? But I’m not 100% sure. To “saffy” it is a link towards the bottom of the page that displays your acceptance letter. It says something along the lines of additional information or additional letters or something, it is a blue link.</p>
<p>I look forward to hopefully meeting some of you guys! I’m finding it hard to even think about turning down UChicago when it will only cost me around 18,000/year!</p>
<p>Unless the scholarship check is given directly to the student scholarship money reduces how much aid the college gives, sort of makes outside scholarships worthless.</p>
<p>How do merit scholarships affect the total FA package? The NPC shows that I can expect to receive $46K in University Grant, and $1700 from the Odyssey Need-Based fund, but I have been awarded with a $10k/year merit scholarship. Will that reduce the price of my University Grant, or will that take away from my EPC? Hoping that it’s the latter.</p>
<p>From the UChicago Fin Aid Guide for 2012-2013:
(If you are a recipient of the University Scholar Award, you are not expected to borrow student loans. Further, this award will be adjusted only when the combination of outside scholarships and University of Chicago funds exceeds the total cost of attendance.)</p>
<p>For example, when my son received the University Scholar money, it did not change the University Grant money they said they would give. Also, my son was awarded a number of outside scholarships at high school graduation and that reduced the money we were expected to pay. The grant & merit money from UChicago stayed the same. </p>
<p>On a down note, the National Merit Award did come off of the University Grant. Still got the total ‘free’ money that UChicago was going to give, it was just allocated from different accounts.</p>
<p>It sounds like UChicago is hoping you will choose them, now that they have chosen you. I can tell you that my son, in his Freshman year, called home a month into the school year to ask if he could come home for Christmas a few days LATER than originally planned because he wanted to stay a couple extra days! In other words, he loves it there and is very happy with his decision to attend.</p>
<p>“Does the estimated financial aid package differ from the actual amount by much? Assuming that the same financial situation described in my CSS and 2011’s is shown in my 2012’s of course.”</p>
<p>Bumping for this question. It’d be a nightmare if we got less (even barely less) once we submitted the 2012. I tried looking around for an answer and couldn’t find one, but I’d just like to note that the aid has gotten so, so much better in the past couple of years. Even reading some stuff from 08/09, apparently FA was a horror story (confirmed even by current students). And I’m really pleased with my package, as I was worried my family wouldn’t be able to demonstrate enough need.</p>
<p>Anyone know how accurate the “Net Price Calculator” is? I’m still waiting on my financial aid decision, so I used the info on my CSS profile to fill out the NPC, it said my expected contribution from summer/school term earnings was $2240 per year and the rest would be covered by scholarships/grants. No loans (yay!) and no expected parent contribution (weird, but hey I’ll take it). My family makes less than $50k (and it will likely be less than $40k this year), and I have a much younger sibling, as well as another sibling who may be starting college in the fall as well, so I doubt I’ll have trouble demonstrating enough need, but I was just wondering if $2240 is approximately what I should be expecting.</p>
<p>Oh wow! Thanks so much apptmom. My mom’s a single parent, so she was on the verge of looking for a 2nd job depending on the EFC that UChicago requires her to pay, so I’m very glad that the merit award will knock off some of her payment! </p>
<p>I’m definitely matriculating at UChicago, wouldn’t pass up this opportunity for the world!</p>
<p>Apptmom & ladylikeliz, somehow, our experience (admitted last year with $10k university Schloarship) was different. The scholarship first eleminated student contribution (loan & work study), then reduced University grant. The parents EFC was not reduced by university scholarship money. </p>
<p>Our experience with national merit scholarship (reduce university grant) and outside scholorship (reduce parents EFC) are the same as apptmom’s family. </p>
<p>Perhaps ladylikeliz should call school financial aid office to clearify what applies to her individual case.</p>
<p>Also, congratulation on the acceptance and merit scholarship. Like apptmom’s son, my daughter’s 1st quater in school has been amazing. We are are extremely happy and grateful for the opportunities Uchicago makes possible to her.</p>
<p>Tawarren95, other than adjustment made by national merit scholarship and outside scholarship (which only reduced our net price), the actual aid package we received was the same as estimated one.</p>
<p>Really? Whoa, I definitely need to call them but I know they probably won’t be back in office until after the break. I just want to find everything out concerning the EFC because it’s not right to ask my mom to work more than she already is. Hopefully I can get it all worked out soon. Thanks all!</p>
<p>It wouldn’t hurt for you to give FinAid a call. I read your post and just double checked my son’s UChicago financial portal and the University Scholarship did not change the grant award we got. With the quarterly billing, they split the merit, grant & scholarship into 1/3 for each bill, but it is all the credits are there.</p>
<p>Glad to hear your daughter is also having a great time :)</p>
<p>Apptmom, thanks for the info and advice. When I talked to FinAid back in April, I was told that only scholarship not funded by UChi can be used to reduce parents’ EFC. I am amused somehow it did not occurred to me that I should be calling about it too even though I suggested ladyliz to do so :).</p>
<p>Quick update- I called the Office of FA, and they explained to me that the merit scholarship will eradicate loans and work study contributions for me, and then whatever’s left will be subtracted from my mom’s EFC. They’re really amiable, and will re-configure our estimate if we send them itemized deductions and other papers! SO ecstatic right now!</p>